[viscanti]

Doesn't it depend what the private universities do with the money? If it's spent on enabling people to attend who otherwise wouldn't be able to, that seems good (regardless of how large the endowment at that university is).

[bashallah]

You have to rationalize; if their endowment is that large, they aren’t prioritizing enabling more students to attend with reduced or no tuition.

[IfOnlyYouKnew]

Instead of rationalising, try researching. Ivy League universities, for example, almost uniformly use "need-blind admission". Meaning they admit you first, and the decision comes with a promise to find a way to make it affordable for you to attend given your circumstances.

As a datapoint, "Fifty-five percent of Harvard College students receive need-based scholarship aid, and the average grant this year is more than $53,000." (https://www.google.com/search?client=safari&rls=en&q=harvard...)